Investment Strategies – Page 10
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Features
The fallacy of CB independence
Central banks are no longer independent of politics, argues Kommer van Trigt, and investors should take that into account
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Asset Class Reports
Credit: Signs of exuberance
More high yield, more security, more hybrids. Joseph Mariathasan surveys the changing European credit markets and asks, are they changing for better or worse?
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Asset Class Reports
Credit: Where credit is due
Joseph Mariathasan finds there is more to credit hedge funds than an inflated fee structure
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Asset Class Reports
Credit: Smuggling in some spread
Martin Steward finds risk-averse managers picking up spread from asset-backed bonds, subordinated financials and ‘rising-star’ high-yield issuers
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Asset Class Reports
Private Equity: Is mega back?
With the high-yield market on fire and household names being plucked from public markets, Joseph Mariathasan asks if we are heading back to the heady days of the 2006 ‘mega’ buyout
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Asset Class Reports
Private Equity: Bridging the gap
Martin Steward meets the co-founders of OceanBridge Partners, whose flexible new model aims to maximise the potential of private equity investing
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Features
Choosing the middle way
René Biner offers a 21-year data set that reveals surprising facts about historical loss rates in European mezzanine debt – and the advantages of vintage-year diversification
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Interviews
An emerging markets coup
After a burst of acquisitive growth during its years as the investment division of Lehman Brothers, Neuberger Berman’s time as an independent asset manager has instead been spent redefining its brand, building track records and expanding its global reach.
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Asset Class Reports
Private Equity: Palico: Online dating for LPs and GPs
As our main feature reveals, there are more than a few private equity limited partners (LPs) facing resource problems as the industry fragments and spreads beyond the traditional centres of North America and Western Europe, at the same time as disrupted investment cycles clog up the cash-distribution and fundraising pipeline. LPs are struggling to keep abreast of new managers and markets, or even stay on top of their increasingly crowded and complex portfolios.
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Features
A tragedy of small decisions
Bob Swarup and Dario Perkins look at the latest developments in the euro-zone crisis and warn that while history doesn’t repeat itself, it does rhyme.
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Features
Once upon a time in the East
It may not quite be cowboy capitalism, but a showdown is due in China, writes Gary Greenberg
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Asset Class Reports
Private Equity: Springclean for portfolios
Joseph Mariathasan looks at the challenges facing pension fund limited partners trying to manage the size, complexity and risk exposures of their private equity portfolios
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Asset Class Reports
Private Equity: Secondaries redefined
Traditional secondary sales are rarely suited to problematic ‘end-of-life’ or ‘disrupted-cycle’ funds. Jennifer Bollen looks at some innovative, but complex, liquidity solutions
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Special Report
Room for improvement
A new survey reveals that the Dutch private equity sector has yet to fully integrate sustainability, as Nina Röhrbein reports
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Features
Stuck in the middle
The mezzanine-debt opportunity has not gone away. But Martin Steward finds that success will probably depend on both greater focus and flexibility
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Asset Class Reports
US Equities: Too big to grow?
No company can grow its earnings forever, but drawing the ‘ex-growth’ line is almost impossible. Joseph Mariathasan delineates the characteristics of pro-growth mega-caps from the US equity market
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Features
Britain and Europe
The UK has squandered its fiscal strength relative to the rest of Europe, argues Holger Schmieding – and talk of a ‘Brexit’ will only make things worse
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Features
The business of uncertainty
Lynn Strongin Dodds takes a look at a sector beset by uncertainty over regulations, profitability and dividends
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Interviews
Degrees of freedom
It has been a busy Q1 for Artisan Partners. At the time of writing, the 19-year-old firm was on the brink of its IPO. Aiming to raise almost $330m with which to clear its loans, buy back shares and reward its pre-IPO partners, the event feels like the foundation for the firm’s next stage of growth.
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Special Report
Disarming pension funds
Nina Röhrbein finds investors staring down the barrel of a gun when it comes to their investments in controversial weapons
